Building an enthusiastic creative community in DC
Do Creative Entrepreneurs need strategic planning?
When I mention the words “strategic or business planning” to a creative entrepreneur, I usually get one varied reaction: initial genuine interest, quickly followed by a glazing over of the eyes and feeling of being overwhelmed. Don’t get me wrong, there are many creative entrepreneurs that are very business savvy. However, in my experience, for every savvy creative business owner, there are at least 5 more who don’t even realize that they are indeed running a business.
Creative entrepreneurs are somewhat different, because they earn their living based off of their creative endeavors. Just like a child, a work of creative genius is something that is nurtured, comes deep from the heart, and is protected as fiercely as a mother lion protects her cub. It is not to be toyed with, and many creative entrepreneurs even feel funny asking others to pay a fair price for their work. There is a reason why there is the (false) notion of the “starving artist”- for as much time that is spent on creating, there is even more time not being spent on the business side of the creativity. Not that I can blame anyone- creating is certainly more fun than entering transactions into QuickBooks or trying to figure out your target market.
Think about it. If you create the most fantastic pieces of jewelry, but you don’t know how to get your items in front of the very people who will appreciate what you do and more importantly, pay a fair and reasonable price for your creative work, how will you earn a living? How do you know what type of person you should market your wares to---who is your target market- better question is who is your ideal client?
Let’s take this analysis even further. Say you have decided to sell your items at various venues. You create very ornate pieces with real stones and precious metals; however, you price each item for $20. The first question to ask is –“how much did it cost me to make this piece of jewelry”- this would include your supplies and the length of time it took you to make the piece. The next question you might want to ask is, if I charge $20, am I making money, losing money or breaking even? Let’s say that it cost you $30 to make each piece. You automatically have a problem because you valued each piece at $20- thus losing $10 every time you sell something. The initial excitement of selling your wares is gone with the realization that you are actually losing money. Multiply that by 20 and you have lost $200. Better put, you spent $600 to only make $400 in income. Your home will be filled with your beautiful creations, but your bank account will probably be a little lean as a result.
This might be fine if you are just creating as hobby, but what if it is your passion to design jewelry? What if you want to make a living from it? This line of analysis can be done with any creative profession. My point is that as a creative entrepreneur, you can generate wealth from your creativity if you shift your mindset to an entrepreneurial mindset. The fact remains that if you want to earn a healthy living from your creative talents, you will have to learn how to approach the business side in a manner that is comfortable to you.
These are some of the many reasons why I created the Creative Entrepreneurs Bootcamp (CEB). I wanted to provide a different type of entrepreneurial training workshop for creative entrepreneurs. One that focused less on the “this is how you write a business plan” and more on approaching strategic planning from a creative-right brained perspective. In fact, I like to think of the CEB as “left brained activities for right-brained people”.
In all of my workshops, I focus a lot on creating a mindset conducive for successful entrepreneurship. I will discuss the energy of money and how to change your orientation about earning a living from your creative pursuits. In addition, I introduce folks to the concept of a Cosmic Business Plan; guide you through establishing a creative action plan and talk about the intersections of personal and business finances.
This is my life's work, and I am very honored and humbled to be walking and working along this path!!!
Creative entrepreneurs are somewhat different, because they earn their living based off of their creative endeavors. Just like a child, a work of creative genius is something that is nurtured, comes deep from the heart, and is protected as fiercely as a mother lion protects her cub. It is not to be toyed with, and many creative entrepreneurs even feel funny asking others to pay a fair price for their work. There is a reason why there is the (false) notion of the “starving artist”- for as much time that is spent on creating, there is even more time not being spent on the business side of the creativity. Not that I can blame anyone- creating is certainly more fun than entering transactions into QuickBooks or trying to figure out your target market.
Think about it. If you create the most fantastic pieces of jewelry, but you don’t know how to get your items in front of the very people who will appreciate what you do and more importantly, pay a fair and reasonable price for your creative work, how will you earn a living? How do you know what type of person you should market your wares to---who is your target market- better question is who is your ideal client?
Let’s take this analysis even further. Say you have decided to sell your items at various venues. You create very ornate pieces with real stones and precious metals; however, you price each item for $20. The first question to ask is –“how much did it cost me to make this piece of jewelry”- this would include your supplies and the length of time it took you to make the piece. The next question you might want to ask is, if I charge $20, am I making money, losing money or breaking even? Let’s say that it cost you $30 to make each piece. You automatically have a problem because you valued each piece at $20- thus losing $10 every time you sell something. The initial excitement of selling your wares is gone with the realization that you are actually losing money. Multiply that by 20 and you have lost $200. Better put, you spent $600 to only make $400 in income. Your home will be filled with your beautiful creations, but your bank account will probably be a little lean as a result.
This might be fine if you are just creating as hobby, but what if it is your passion to design jewelry? What if you want to make a living from it? This line of analysis can be done with any creative profession. My point is that as a creative entrepreneur, you can generate wealth from your creativity if you shift your mindset to an entrepreneurial mindset. The fact remains that if you want to earn a healthy living from your creative talents, you will have to learn how to approach the business side in a manner that is comfortable to you.
These are some of the many reasons why I created the Creative Entrepreneurs Bootcamp (CEB). I wanted to provide a different type of entrepreneurial training workshop for creative entrepreneurs. One that focused less on the “this is how you write a business plan” and more on approaching strategic planning from a creative-right brained perspective. In fact, I like to think of the CEB as “left brained activities for right-brained people”.
In all of my workshops, I focus a lot on creating a mindset conducive for successful entrepreneurship. I will discuss the energy of money and how to change your orientation about earning a living from your creative pursuits. In addition, I introduce folks to the concept of a Cosmic Business Plan; guide you through establishing a creative action plan and talk about the intersections of personal and business finances.
This is my life's work, and I am very honored and humbled to be walking and working along this path!!!
Tags: bootcamp, business, creative, entrepreneur, financial, management, small, training
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